FIN REG-FEDERALLY INSURED BANK Senate SponsorsSen. Kimberly A. Lightford-Dan Rutherford-Mattie Hunter House Sponsors(Rep. Joseph M. Lyons-Bill Mitchell) 1/11/2005SenateSession Sine Die 205 ILCS 5/2from Ch. 17, par. 302205 ILCS 5/5from Ch. 17, par. 311Amends the Illinois Banking Act. Defines "federally insured depository institution" to mean a bank that is insured by the Federal Deposit Insurance Corporation or other instrumentality of or corporation chartered by the United States that is supported by the full faith and credit of the United States government. Modifies the general corporate powers of banks organized under or subject to the Act. Allows banks to offer any product or service that is at the time authorized or permitted to any federally insured depository institution by applicable law subject to the same limitations and restrictions that are applicable to the federally insured depository institution for the product or service by such applicable law. Effective immediately.Senate Floor Amendment No. 2 Makes changes in provisions pertaining to a bank's general corporate powers to offer any product or service that is at the time authorized or permitted to any federally insured depository institution by applicable law. 2/6/2004SenateFiled with Secretary by Sen. Kimberly A. Lightford 2/6/2004SenateFirst Reading 2/6/2004SenateReferred to Rules 2/10/2004SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford 2/18/2004SenateAssigned to Financial Institutions 2/25/2004SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford 2/25/2004SenateSenate Committee Amendment No. 1 Referred to Rules 2/26/2004SenateDo Pass Financial Institutions; 006-003-000 2/26/2004SenatePlaced on Calendar Order of 2nd Reading March 2, 2004 3/23/2004SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford 3/23/2004SenateSenate Floor Amendment No. 2 Referred to Rules 3/24/2004SenateSenate Floor Amendment No. 2 Rules Refers to Financial Institutions 3/24/2004SenateSenate Floor Amendment No. 2 Be Adopted Financial Institutions; 009-000-000 3/24/2004SenateSecond Reading 3/24/2004SenateSenate Floor Amendment No. 2 Adopted; Lightford 3/24/2004SenatePlaced on Calendar Order of 3rd Reading March 25, 2004 3/26/2004SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 3/26/2004SenateThird Reading - Passed; 049-004-001 3/26/2004SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 3/26/2004HouseArrived in House 3/26/2004HousePlaced on Calendar Order of First Reading 3/26/2004HouseChief House Sponsor Rep. Joseph M. Lyons 3/29/2004HouseFirst Reading 3/29/2004HouseReferred to Rules Committee 4/2/2004HouseAdded Alternate Chief Co-Sponsor Rep. Bill Mitchell 1/11/2005SenateSession Sine Die